the total cost becomes ₹105. Upon adding ₹50 in value to the product, he sells it for ₹155. The GST on ₹155 is ₹7.75, but he can claim an input tax credit of ₹5 for the GST paid on raw materials. Therefore, the net GST liability of the manufacturer is ₹2.75...
In fact, the system enables you to use your smartphone as a virtual debit card. UPI is now growing in popularity. Shiprocket recently announced in its report 'eCommerce in the New Bharat and its Future' that 57% of consumers in India will choose UPI as their preferred payment option. PwC...
Incorrect calculation of GST for credit notes.Upcoming fixes in 10.0.7Printing multiple copies using print management is not working for the Sales invoice report. The imported customer free text invoice is not updating for the India legal entity. Data not showing in the Tax Transaction inqui...
4. What is UTGST? UTGST stands for Union Territory Goods and Services Tax. It is a tax levied on the supply of goods and services within Union Territories (UTs) in India. UTGST functions similarly to SGST, but it applies specifically within UTs instead of states. ...
The transaction posting date of a bill is the date on which the journal entry of the bill is posted. You can enable this date for your bills to use instead of the bill date for claiming tax returns. Additionally, you can filter your AP aging summary and AP aging details reports based ...
If you change the adjusted withholding tax amount on the Withholding tax page in the invoice journal, the adjusted withholding tax amount isn't updated after you close and reopen the page. This update fixes this issue. If a purchase requisition is created in a foreign currency, and the sub...
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provision. What this means is that the HMRC gives credit against your Inheritance Tax based on the tax already paid to the other country. However, if the foreign tax is higher than the Inheritance Tax you would pay in the UK, the credit is limited to the amount of UK Inheritance Tax. ...
Learn the definition of exporting, view export trends around the world, and explore how you can use exports to unlock new foreign markets for your products.